All news: page 28

Baku. BP Plc and its partners just spent $28 billion bringing a giant natural gas project in Azerbaijan online, and that may only be the start, Trend reports citing Gary Jones, BP’s regional president for Azerbaijan, Georgia and Turkey.
The British oil major intends to drill six new ...

Mexico. Mexico’s Finance Ministry confirmed that it spent about $1. 23 billion to protect 2019 revenues against falling crude prices in the world’s largest annual oil deal.
The oil producer locked in hedges at $55 a barrel, equivalent to the price approved by lawmakers for the ...

Kiev. Natural gas talks in the Russia - EU - Ukraine format will be held at an expert level on January 15, executive director of Naftogaz of Ukraine Yuri Vitrenko wrote in Facebook.
"The gas transit contract between Naftogaz and Gazprom will end this year. The trilateral (European ...

Singapore. Oil slipped on Friday amid concerns over the outlook for the global economy, but output cuts agreed by major exporters underpinned crude prices and kept markets on track for a strong weekly climb.
International Brent crude futures LCOc1 were at $61. 55 per barrel at 0333 GMT, ...

Moscow. Political tensions have remained high over the Nord Stream 2 project, which Moscow says is purely economic. Richard Grenell, who became US ambassador to Germany in May 2018, said that European companies active in the venture are "always in danger" of Nord Stream 2-related ...

Saudi Arabia. Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago, saying its reserves total 268. 5 billion, slightly more than the 266. 3 billion figure that the government published previously.
The audit, conducted ...

Baku. Azerbaijan submitted data on the daily oil production in the country for December 2018 to the joint technical committee of the OPEC monitoring committee as part of the fulfillment of the Vienna agreement on reduction of oil production, Trend reports with reference to the Azerbaijani ...

Las Vegas. South Korean oil buyers are expected to restart Iranian oil imports in late January or early February, the head of South Korea’s SK Innovation, which owns South Korea’s biggest oil refiner SK Energy, said on Wednesday.
In November, South Korea won a six-month waiver ...

Kiev. Naftogaz of Ukraine filed a new claim in the amount of $12 bln against Russian gas holding Gazprom due to a potential impairment of the Ukrainian gas transport system (GTS), chief executive of Naftogaz Andrei Kobolev said on Wednesday in an interview with Ukraine’s Channel 5. ...

Singapore. Oil prices fell by 1 percent on Thursday on swelling U. S. supply, although the mood in global markets was increasingly confident amid hopes the United States and China may soon end trade disputes that have undermined global economic growth.
U. S. West Texas Intermediate (WTI) ...

Kiev. Ukrtransgaz reduced the volume of gas transported from the Russian Federation to European countries and Moldova by 6. 7 bln cubic meters in 2018 to 86. 8 bln cubic meters.
The volume of Russian gas transported to EU countries and Moldova through the Ukrainian territory decreased by 6. 7 ...

Baku. APM Terminals, which is a part of Danish A. P. Moller – Maersk, has completed the divestment of its Izmir container terminal to Azerbaijan’s state oil company SOCAR, Maersk told Trend.
APM Terminals has decided to divest its container terminal in Izmir, Turkey, to its ...

Kaliningrad. The difference in prices of pipe gas and liquefied natural gas should affect consumers in the Kaliningrad region, Russian President added.
Russian President Vladimir Putin said that the Kaliningrad region is no longer dependent on transit gas supplies. According to him, ...

In a task as difficult as forecasting oil prices mistakes are inevitable. Because in the future some major events may happen that will dramatically change the prevailing trend.
Last year my forecast for 2018 was that the Brent would slowly grow in the interval of $62-81. It worked well ...

Singapore. Oil prices rose on Wednesday, extending gains from the previous session on hopes that Washington and Beijing can resolve a trade dispute that has triggered a global economic slowdown.
U. S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $50. 29 per barrel as at ...

Baku. The STAR oil refinery of the Azerbaijani state oil company SOCAR will supply its products to the market in January 2019, director general of STAR refinery Mesut Ilter said.
“The refinery intends to reach full capacity in early 2019, ” Ilter added, reports Trend.
Ilter ...

According to the established tradition, at the end of December we are summing up the year for the Russian oil and gas industry. The results are controversial.
Oil and condensate production this year is expected to reach 556 million tons, a 1. 8% increase on 2017 figures. The Ministry of ...

Baku. Elnur Soltanov has been appointed new deputy energy minister of Azerbaijan, told the ministry Dec. 28.
Earlier, Soltanov served as director of the Caspian Center for Energy and Environment at the ADA University, as well as dean of the University’s faculty of public and ...